NSW surcharge purchaser duty & surcharge land tax reversal

NSW Revenue has issued a release stating the NSW surcharge provisions are inconsistent with international tax treaties entered into by the Federal Government with New Zealand, Finland, Germany and South Africa.  These international tax treaties are related to taxation and other matters and have been given the force of federal law.

Thererfore, effective immediately, individuals that are citizens of the nations concerned purchasing residential-related property or land in their own capacity will no longer be required to pay surcharge purchaser duty or surcharge land tax.

Refunds may be available for purchasers/transferees, and landowners, from the nations concerned who paid surcharge purchaser duty or surcharge land tax on or after 1 July 2021.